PM announces USD 450 mn Line of Credit to Sri Lanka

New Delhi: Prime Minister Narendra Modi on Friday announced a financial assistance of USD 450 million to Sri Lanka, including USD 50 million to fight terrorism, after holding “fruitful” talks with the island nation’s newly elected President Gotabaya Rajapaksa on maritime security, demands of Tamil minorities, concerns of fishermen and ways to boost security and trade ties among others.
Assuring New Delhi’s unflinching support to Sri Lanka’s journey for prosperity, Modi, in a media statement, said the security and development of the two maritime neighbours were “inseparable” and it was natural that both countries remain mindful of each other’s security interests and sensitivities.
Modi said he has assured President Rajapaksa of India’s commitment to a development partnership with Sri Lanka which will be in accordance with the priorities of the people of the island nation.
On the Tamil issue, Modi said he was confident that the new Sri Lankan government would pursue the process of reconciliation in fulfilling the aspirations of the Tamils for equality, justice, peace and respect.
Signalling his intent to forge deeper ties with India, Rajapaksa arrived here on Thursday on a three-day visit, in his first overseas tour after taking over the reins of Sri Lanka 10 days back.
There has been a growing perception that Mahinda Rajapaksa, Gotabaya’s elder brother, allowed China to expand its influence over Sri Lanka during his presidency from 2005-2015.
Earlier, speaking to reporters after a ceremonial welcome at the Rashtrapati Bhavan, the Sri Lankan president said he would strive hard to take his country’s bilateral relationship with India to a “very high level”. (PTI)